Okla. Admin. Code § 252:633-3-25

Current through Vol. 42, No. 7, December 16, 2024

Section 252:633-3-25 - Accounting

(a)Instrument. The recipient shall agree to the following:

(1) That project accounts shall be maintained in accordance with standards set forth by the Governmental Accounting Standards, the OWRB and the DEQ;

(2) A fund in the project account shall be secured in the manner provided by law for the security of county funds or city funds, as appropriate;

(3) All proceeds acquired by the recipient to plan, design and construct the project shall be placed in the project account;

(4) All proceeds in the project account shall be used for the sole purpose of planning, designing and building the project as approved by the OWRB and the DEQ;

(5) That an annual audit of the recipient, prepared by a certified public accountant, be provided to the OWRB;

(6) That the recipient shall maintain adequate insurance coverage on the project in an amount adequate to protect the State's interest;

(7) That the recipient will comply with any special conditions specified by the DEQ environmental determination, required pursuant to OAC 252:633-7-1, until all financial obligations to the State have been discharged; and

(8) That the recipient covenants to continually abide by the terms of the financial assistance agreement and relevant State statutes and regulations for operation and maintenance of the facility.

(b)Final accounting. The applicant shall make a final accounting to the DEQ of the total cost of the project. If the project is completed at a total cost less than the amount of available funds for building the project the recipient shall immediately, with filing the final accounting, return to the DWSRF the amount of any such excess. If the DEQ disapproves construction of any portion of the project as not being in accordance with the plans and specifications, the recipient shall immediately return to the DWSRF the ineligible amount.

Okla. Admin. Code § 252:633-3-25

Added at 14 Ok Reg 1139, eff 3-18-97 (emergency); Added at 14 Ok Reg 1690, eff 6-2-97; Amended at 15 Ok Reg 1957, eff 6-1-98; Amended at 25 Ok Reg 1140, eff 7-1-08